ISLAMABAD: The drug prices have stabilised in the market, which witnessed a significant increase a month ago as a result of the Drug Regulatory Authority of Pakistan (DRAP)'s intervention. Traders at Bohar Bazaar, Rawalpindi, the medicine wholesales market, during a survey told Business Recorder here on Thursday that on July 28, 2020, majority of the pharmaceutical companies increased the drug prices following government's permission to allow pharma companies to increase drug prices between 7-10 percent, effective from September, 2020.
Traders said that some of the pharma companies instead of following given cushion of seven to 10 percent increase in the drug prices; hiked the rates of their produce from 6.43 percent up to 100 percent.
Dealers attributed the stability in drug prices to the better coordination between pharma companies and the drug regulator, saying after the breakout of the Covid-19, Pakistan has also exported drugs worth millions of dollars. Drug dealers also attributed the stability in drug prices to the appointment of Prime Minister's Advisor Dr Faisal Sultan.
The Drug Pricing Policy 2018 granted the pharma manufacturer with an annual right to automatically increase prices by seven to 10 percent without government's right to intervene. The Drug Pricing Policy 2018 has been revised by the federal government with an amendment that the government can exclude any category of drugs from annual increase of price, and also lowered timeline for decisions on hardship cases to 120 days from 180 days.
In July 2020, according to drug dealers the pharma companies had increased the price of Nilstat drops used for mouth diseases by Rs40 per pack, from Rs74 to Rs114, which reflected an increase of 46 percent. Price of injection, Levemir used for sugar treatment was increased by Rs770 per pack, from Rs5,046 to Rs5,816, which reflected an increase of 15.15 percent, injection Lantus used for sugar treatment price jumped by Rs667 per pack, from Rs3,191 to Rs3,858 per pack, an increase of 20.9 percent.
Similarly, price of tablet Daflon used for piles treatment was increased by Rs30 per pack, from Rs407 to Rs437 per pack, which showed an increase of 7.37 percent, injection Epival price was increased by Rs70 per pack, from Rs82 per pack to Rs152 per pack, which reflected an increase of 85 percent, tablet Galvas met price was increased by Rs100 per pack, from Rs1,554 to Rs1,654, that reflected an increase of 6.43 percent.
Tab neurobion price jumped from Rs555 per pack to Rs750 per pack, that reflected an increase of 35.13 percent, tab polybion Z price was increased by Rs90 per pack, from Rs75 per pack to Rs165 per pack, which reflected over two times increase, Seretide inhaler price was increased from Rs1,050 to Rs1,090 per pack, and Tablet airtal price went up from Rs200 per pack to Rs283, reflecting an increase of 41.5 percent.
Traders had told this correspondent that this was the first phase of increase in medicine prices and a second increase was likely in September. A spokesperson of the National Health Services told Business Recorder that the government neither in July allowed pharma companies to increase the drug prices nor it was going to allow now. He blamed a section of media for reporting incorrect information.
Copyright Business Recorder, 2020
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